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. 2021 Oct 23;63(2):1109–1134. doi: 10.1007/s00181-021-02148-7

Table 3.

Regime switching probabilities for the selected metals in spot and futures markets

Spot markets Futures markets
Gold Silver Platinum Palladium Gold Silver Platinum Palladium
P11 93.5 89.1 86.9 63.7 56.4 96.5 83.3 29.1
P22 6.5 10.9 13.1 26.3 43.6 3.5 16.7 60.9